It’s not enough to bet on Wall Street’s winners anymore — you have to prey on the losers’ downfall, too. That’s why trolls, haters, and speculators will likely lean into Defiance ETFs’ latest offering. Teased in December, the company’s new Battleshares ETFs offer investors a unique way to profit on ground-shifting changes across industries by going leveraged long on new-wave innovators and short on entrenched legacy names.

GoELON

-g (and short): On Thursday, the first Battleshares ETF finally went live — the Battleshares TSLA vs. F ETFELON

. Pitting EV heavyweight TeslaTSLA

against Detroit mainstay FordF

, investors in the fund stand to benefit from the rising fortunes of CEO Elon Musk, as well as the falling star of traditional American auto giants. It’s a bet that would have paid in spades over the past year, during whichTSLA

rose 87% andF

fell 24%. Here’s how it works:

• ELON
  has a 2x long position in Tesla, which multiplies investors’ gains (and their losses) — e.g., a 1% increase in this position could result in a 2% gain, and the opposite if the stock falls.
• Then, the fund bundles in a 1x short position in Ford — so ifF
  falls 1%, then investors gain 1%, and the opposite is the case ifF
  stock rises.

Won the Battle (But Here Comes the War)

These funds are first-of-their-kind and unique in the way they implement leverage and short strategies. And per public filings, there are even more funds on the way. Here’s what’s on deck — and how each pair of stocks performed over the past year:

• Nvidia vs. Intel:NVDA
  was up 88%, andINTC
  was down 47%.
• Amazon vs. Macy’s:AMZN
  was up 34%, andM
  fell 22%.
• Coinbase vs. Wells Fargo:COIN
  rose 71%, andWFC
  rose 65%.
• MicroStrategy vs. JPMorgan:MSTR
  rose 339% andJPM
  rose 57%.
• Netflix vs. Comcast:NFLX
  rose 83%, andCMCSA
  fell 16%.
• Eli Lilly vs. Yum Brands:LLY
  rose 12%, andYUM
  rose 10%.
• Google vs. The New York Times:GOOGL
  rose 27%, andNYT
  rose 13%.

Read the fine print: More options are great. However, investing in a Battleshares ETF for the long run is likely not for the faint of heart, not just because it involves the use of leverage and shorting, but because the ETF costs a lot to hold — it boasts a 1.29% expense ratio. That makes it significantly more expensive than your run-of-the-mill passive index fund — and even steeper than competing leverage funds like the Direxion Daily TSLA Bull 2X SharesTSLL

, which costs 0.96%. Just let that be something to keep in mind before you YOLO your entire portfolio into one of these bad boys…